Politicians are constantly prescribing new programs to cure all of our financial woes and make everyone richer, healthier, thinner, smarter, happier and nicer. Now, if politicians were producing things of value with their own labor and money, they would be helping the economy. Instead, they take your money and your employer's, friends', neighbors' and family's and future generations'. When that isn't enough to pay for their expensive tastes in government programs, they just print more and make all of your dollars worth less. As overly simplistic as this explanation sounds, these are their only two options.
Somehow, politicians seem to believe that Americans will buy into (no pun intended) the idea that increased government spending is the cure. Undoubtedly, these Americans are the same ones who believe that they can pay off their debt by getting a new credit card. We can see on an individual level that people maximize their long-term wealth by spending on necessary things and investing what they can so that they are able to consume more in the future. When we face tough times, we spend less and we spend intelligently. The federal government would do well to follow the same sound financial strategy.
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